View - Financial Advice Centre Ltd
... potential for a very high return on your capital and are willing to take investment risk with most, if not all, of your capital in order to achieve this potential. You accept that your investments are likely to rise and fall in value frequently and significantly and that very large or even total los ...
... potential for a very high return on your capital and are willing to take investment risk with most, if not all, of your capital in order to achieve this potential. You accept that your investments are likely to rise and fall in value frequently and significantly and that very large or even total los ...
Impact Assessment
... 2. As the ICB argued, banks that are large, systemic and too complex to be resolved in the event of failure benefit from a perceived implicit government guarantee, as market participants presume that, faced with the failure of such a bank, the Government would have no choice but to rescue it, if nec ...
... 2. As the ICB argued, banks that are large, systemic and too complex to be resolved in the event of failure benefit from a perceived implicit government guarantee, as market participants presume that, faced with the failure of such a bank, the Government would have no choice but to rescue it, if nec ...
Wilson Kattelus
... Any unrealized gains or losses arising from fair value reporting are shown on the operating statement (statement of activities or statement of revenues, expenses and changes in fund net assets) ...
... Any unrealized gains or losses arising from fair value reporting are shown on the operating statement (statement of activities or statement of revenues, expenses and changes in fund net assets) ...
How Excessive Is Banks` Maturity Transformation?∗
... two forces pushing in opposite directions: first, investors’ preference for liquidity (which calls for issuing debt with short maturities) and, second, the existence of systemic liquidity crises in which refinancing the maturing debt is especially costly (which calls for borrowing at long maturities ...
... two forces pushing in opposite directions: first, investors’ preference for liquidity (which calls for issuing debt with short maturities) and, second, the existence of systemic liquidity crises in which refinancing the maturing debt is especially costly (which calls for borrowing at long maturities ...
Reporting Form ARF 210 Liquidity Instruction Guide
... Haircuts for HQLA1 and HQLA2 are pre-defined in this section in accordance with the requirements of APS 210 Attachment A paragraphs 8 and 9. Margins as defined by the RBA for CLF eligible securities are to be incorporated into the reported balance in column 1. No values are to be reported in this co ...
... Haircuts for HQLA1 and HQLA2 are pre-defined in this section in accordance with the requirements of APS 210 Attachment A paragraphs 8 and 9. Margins as defined by the RBA for CLF eligible securities are to be incorporated into the reported balance in column 1. No values are to be reported in this co ...
Monetary Policy Report, April 2016
... Inflation abroad is low and recent years’ falling prices for oil and other commodities mean that it will remain low in 2016. As economic activity improves, KIX‐weighted inflation will rise and reach approximately 2 per cent in 2017. Monetary policy abroad has been expansionary for a long time. ...
... Inflation abroad is low and recent years’ falling prices for oil and other commodities mean that it will remain low in 2016. As economic activity improves, KIX‐weighted inflation will rise and reach approximately 2 per cent in 2017. Monetary policy abroad has been expansionary for a long time. ...
Franklin Quotential Balanced Income Portfolio Series A
... information. The Morningstar Risk-Adjusted Rating, commonly referred to as the Star Rating, relates the risk-adjusted performance of a fund to that of its category peers and is subject to change every month. The Star Rating is a measure of a fund’s annualized historical excess return (excess is meas ...
... information. The Morningstar Risk-Adjusted Rating, commonly referred to as the Star Rating, relates the risk-adjusted performance of a fund to that of its category peers and is subject to change every month. The Star Rating is a measure of a fund’s annualized historical excess return (excess is meas ...
recent banking sector reforms in japan : an assessment
... into higher margin credit card business; and the growth in NPLs since 1994, through its impact on loan losses, has caused operating profit to be negative since 1993 (see Table 3.2). This low level of profitability is, in turn, due to the weakness of the domestic economy and the corporate sector, the ...
... into higher margin credit card business; and the growth in NPLs since 1994, through its impact on loan losses, has caused operating profit to be negative since 1993 (see Table 3.2). This low level of profitability is, in turn, due to the weakness of the domestic economy and the corporate sector, the ...
View Document
... Flexibility to take calculated but relatively controlled risks. Effective risk management is about more than limits; it’s about seeking better outcomes and reducing downside risk. We have measures in place to help guide and monitor the process, but provide investment teams leeway to take on a certai ...
... Flexibility to take calculated but relatively controlled risks. Effective risk management is about more than limits; it’s about seeking better outcomes and reducing downside risk. We have measures in place to help guide and monitor the process, but provide investment teams leeway to take on a certai ...
Limited Commitment and Central Bank Lending
... program in a situation in which the borrower does not have the funds to roll over maturing claims, the firm defaults and investors may take a loss. The rate of return on the commercial paper will therefore reflect market expectations about the future funding behavior of the lender. Overly lax lendin ...
... program in a situation in which the borrower does not have the funds to roll over maturing claims, the firm defaults and investors may take a loss. The rate of return on the commercial paper will therefore reflect market expectations about the future funding behavior of the lender. Overly lax lendin ...
Market Makers and Vampire Squid
... Professor of Law, Columbia University Law School) [hereinafter Coffee Testimony]. The legislation contains a parenthetical authorizing the SEC to also include “such other customers as the Commission may by rule provide.” Dodd-Frank, supra note 12, § 913(g). The SEC staff study, discussed infra notes ...
... Professor of Law, Columbia University Law School) [hereinafter Coffee Testimony]. The legislation contains a parenthetical authorizing the SEC to also include “such other customers as the Commission may by rule provide.” Dodd-Frank, supra note 12, § 913(g). The SEC staff study, discussed infra notes ...
Why the Mutual Fund Scandal Matters
... day’s activity at that price. Most funds calculate their NAVs after the market closes (4pm Eastern for the US stock market), based on end-of-day prices. Each fund generally has a daily deadline for trading at that day’s NAV. The deadline is usually some time in the afternoon, not later than the mark ...
... day’s activity at that price. Most funds calculate their NAVs after the market closes (4pm Eastern for the US stock market), based on end-of-day prices. Each fund generally has a daily deadline for trading at that day’s NAV. The deadline is usually some time in the afternoon, not later than the mark ...
An Empirical Study of Taiwan Bond Market Based on Nonlinear
... between the long-term and short-term rates of interest. That is to say, the premium on the yield rates in each period is not featured by unit-root under the circumstances of long-term balance. In most studies on the unit-root test and co-integration, it is hypothesized as a linear adjustment, as in ...
... between the long-term and short-term rates of interest. That is to say, the premium on the yield rates in each period is not featured by unit-root under the circumstances of long-term balance. In most studies on the unit-root test and co-integration, it is hypothesized as a linear adjustment, as in ...
Credit Creation Social Optimality Southampton Uni
... they were favourable, indeed that they had contributed to a ‘Great Moderation’; making the financial system more stable by ensuring the distribution of risks to investors best able to absorb them and enabling the dynamic management of risks on a day-by-day or hour-by-hour basis. That orthodoxy in tu ...
... they were favourable, indeed that they had contributed to a ‘Great Moderation’; making the financial system more stable by ensuring the distribution of risks to investors best able to absorb them and enabling the dynamic management of risks on a day-by-day or hour-by-hour basis. That orthodoxy in tu ...
Assessing UK money supply measures in light of
... A distinction needs to be made between claim and credit transactions (Mises 1980). A claim transaction occurs when the owner of a given amount of money stores it in a bank, but retains ownership of the entire sum. This supposedly occurs in current accounts, where the owner is entitled to withdraw th ...
... A distinction needs to be made between claim and credit transactions (Mises 1980). A claim transaction occurs when the owner of a given amount of money stores it in a bank, but retains ownership of the entire sum. This supposedly occurs in current accounts, where the owner is entitled to withdraw th ...
Financing Against Pledge of Investment Portfolio
... According to ratings of Standard & Poor’s or respective ratings of other credit rating agencies. Based on a separate customer's application, the Bank can grant the customer financing against the pledge of investment portfolio, which will be secured by bonds that were not assigned a credit rating in ...
... According to ratings of Standard & Poor’s or respective ratings of other credit rating agencies. Based on a separate customer's application, the Bank can grant the customer financing against the pledge of investment portfolio, which will be secured by bonds that were not assigned a credit rating in ...
1 Too Low for Too Long Interest Rates, Bank Risk Taking and Bank
... banks behaviour one of which is an increase in investments in risky assets. According to Rajan (2005) lower interest rates on risk free investments could push banks to invest more in higher yielding investment that are also riskier (assets substitution). We expect that a decrease in the policy rates ...
... banks behaviour one of which is an increase in investments in risky assets. According to Rajan (2005) lower interest rates on risk free investments could push banks to invest more in higher yielding investment that are also riskier (assets substitution). We expect that a decrease in the policy rates ...
Mutual fund flows: an analysis of the main macroeconomic factors
... Cashman et al. (2012) analyzed US funds between April 1997 and December 2007, observing net flow, inflow and outflow separately. These authors stress that, in contrast to other studies, the period they selected encompasses bull markets (with higher inflows) as well as bear markets (with more redempt ...
... Cashman et al. (2012) analyzed US funds between April 1997 and December 2007, observing net flow, inflow and outflow separately. These authors stress that, in contrast to other studies, the period they selected encompasses bull markets (with higher inflows) as well as bear markets (with more redempt ...
CMU Briefing Paper - For Print
... EU citizens as individual investors need positive incentives (“carrots”), and not “sticks”, to channel savings into long term investments for the real economy, since they are already suffering from the “financial repression” which – together with excessively high fees from financial institutions – c ...
... EU citizens as individual investors need positive incentives (“carrots”), and not “sticks”, to channel savings into long term investments for the real economy, since they are already suffering from the “financial repression” which – together with excessively high fees from financial institutions – c ...
Savings and Loan Crisis of the 1980s.......................................... 32
... The confidence of investors further eroded from the recent decline of money market funds. In September 2008, several money market funds, long viewed as equivalent to bank accounts and without risk, “broke the buck,” meaning that they would pay out less than a dollar for every dollar invested. Large ...
... The confidence of investors further eroded from the recent decline of money market funds. In September 2008, several money market funds, long viewed as equivalent to bank accounts and without risk, “broke the buck,” meaning that they would pay out less than a dollar for every dollar invested. Large ...
The Role of ABS, CDS and CDOs in the Credit Crisis and the Economy
... When discussing ratings in the text, S&P are used. 8 Of course, there were some market participants and hedge funds who did recognize these risk di¤erences, see for example, "Paulson’s Hedge Fund Made Billions on Subprime Crisis," Monday, April 19, 2010, moneynews.com. ...
... When discussing ratings in the text, S&P are used. 8 Of course, there were some market participants and hedge funds who did recognize these risk di¤erences, see for example, "Paulson’s Hedge Fund Made Billions on Subprime Crisis," Monday, April 19, 2010, moneynews.com. ...
Liquidity Flooding, Asset Prices and the Real EconomyWe are
... asset prices. We use an industry-equilibrium framework with heterogeneous beliefs to endogenize the collateral value of bank loans. This framework enables us to endogenize why the two sectors are different in the bank credit market, and thus to explain why crowding-out can occur between the two sect ...
... asset prices. We use an industry-equilibrium framework with heterogeneous beliefs to endogenize the collateral value of bank loans. This framework enables us to endogenize why the two sectors are different in the bank credit market, and thus to explain why crowding-out can occur between the two sect ...
PDF
... observed during economic transition as the old capital stock inherited from the socialist times must be replaced by the new and modern one. Thereby own funds are often insufficient across firms, and external capital in form of credits becomes a crucial source of finance. However, during the transiti ...
... observed during economic transition as the old capital stock inherited from the socialist times must be replaced by the new and modern one. Thereby own funds are often insufficient across firms, and external capital in form of credits becomes a crucial source of finance. However, during the transiti ...
what was the role of monetary policy in the greek financial crisis
... Furthermore, if the central bank restricts credit, interest rates will rise, businesses will be less likely to invest, and economic output will fall. On the other hand, when central banks undertake monetary expansion to depress interest rates, the economy will enjoy a short-term boom, but the risk ...
... Furthermore, if the central bank restricts credit, interest rates will rise, businesses will be less likely to invest, and economic output will fall. On the other hand, when central banks undertake monetary expansion to depress interest rates, the economy will enjoy a short-term boom, but the risk ...
EUROPEAN COMMISSION Brussels, 26.2.2015 SWD(2015) 46 final
... mortgage loans. However, no action has been taken to reduce tax deductibility of mortgage interest or to reform the rental market. Some elements of the macroeconomic imbalance relevant recommendations have thus remained unaddressed and overall, limited progress was made in implementing them. As rega ...
... mortgage loans. However, no action has been taken to reduce tax deductibility of mortgage interest or to reform the rental market. Some elements of the macroeconomic imbalance relevant recommendations have thus remained unaddressed and overall, limited progress was made in implementing them. As rega ...